Momentum Continues for FacePhi with Latest Contract

“FacePhi’s solution is designed to leverage a standard smartphone camera to capture a user’s facial biometrics and match them against their identity documents.”

FacePhi has sealed its 22nd contract, the company has announced, with a new client in Bancro Macro of Argentina. The bank has incorporated FacePhi’s biometric onboarding solution with the help of Compusistem, its local tech partner in the country.

The contract win reflect FacePhi’s success in the Latin American region, with the company having also established another Argentine partnership last year with Red Link, an ATM network operator. In a statement announcing its Banco Macro contract, FacePhi suggested that Argentina is seeing a considerable interest in “disruptive technologies in the banking sector.”

FacePhi’s solution is designed to leverage a standard smartphone camera to capture a user’s facial biometrics and match them against their identity documents. In its deployment with Banco Macro, FacePhi says it allows customers “to open a new account on the bank’s mobile and online system without going to a branch.”

With FacePhi having started this year with the announcement that it had seen a 307 percent increase in profit in 2017, the news of its latest deployment suggests that its momentum is continuing through 2018.

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April 23, 2018 – by Alex Perala